Rediff.com« Back to articlePrint this article

Rupee down 19 paise against US dollar in early trade

June 25, 2014 09:52 IST

ReutersThe rupee weakened by 19 paise to 60.32 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market on high demand for the American currency from importers.

Forex dealers said though increased demand for the US currency from importers put pressure on the rupee but a higher opening in the domestic equity market and the dollar's weakness against other currencies overseas, capped the losses.

Yesterday, the rupee strengthened by seven paise to close at 60.13 against the US currency on the back of a sharp rise in local equities, following a drop in global crude oil prices.

© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.